Browsing: Construction sector

Kenya construction projects

Kenya’s construction industry to grow by 3.9pc if economy improves

Kenya

Kenya’s construction industry is projected to grow by up to 3.9 percent this year, according to a new report by the Architectural Association of Kenya (AAK).

The report, dubbed Status of the Built Environment report, AAK however cautions that the growth can only happen if there is no repeat of the strict lock down that were implemented in the country last year after the emergence of the coronavirus pandemic.

The report says growth will be driven by several factors among them a sharp recovery in output levels compared to periods when works were not permitted or were severely restricted in 2020.

“In 2021, the construction industry is expected to improve, assuming a slowdown in COVID-19 cases and recovery in the global economy,” the report notes.

Kenya to start construction of double decker highway as World Bank consents to funding

The report notes that the second quarter of the year, for …

Manufacturing Sector key To Economic Recovery   

Business

A healthy manufacturing sector is a fundamental path to economic growth and development. It is key in creating employment as it absorbs the unemployed population into productive decent paying jobs that help improve their standards of living. Historical evidence shows how industrialisation has transformed countries such as the United Kingdom, Germany and most recently, China, by growing their economies tremendously and earning them amongst the best performing economies in the world. According to the Global Manufacturing Competitive Index, South Africa, Egypt and Nigeria are leading in the evolution of manufacturing in Africa, while Ethiopia and Morocco are following closely behind; all of them have adopted policies that promote manufacturing development. …

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Twiga Cement Announces Solid 2019 Results, Declares Generous Dividend

Industry and Trade

Twiga Cement (TPCC on the Dar es Salaam Stock Exchange) on Friday, May 22, 2020, released its Annual Report and audited accounts for the year ended 2019. Revenues grew 6% and net profits rose 5% in 2019 from the year earlier. Dividends were steady at TZS 290 per share for the third year running.  

Twiga is the dominant cement company in Tanzania. It is the 19th-biggest company overall in East Africa by market value and the fifth-biggest in Tanzania, according to the latest African Business rankings. 

The company is a subsidiary of German multinational Heidelberg Cement, which owns 69.3%. The other 30.7% trades on the DSE and is owned by thousands of small shareholders and investment funds.  

Twiga has a huge competitive advantage over the other cement industry players in Tanzania, because its production facilities are on the outskirts of Dar es Salaam. Cement is heavy and expensive

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